Penang Property | The 8-mural in the city of Georgetown Heritage Zone,Penang MALAYSIA.

Penang Property | The 8-mural in the city of Georgetown Heritage Zone, Penang MALAYSIA. Mural#1 & 2.

Courtesy of VulcanInternational | Penang Property
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Thursday July 19, 2012

Trishaw mural set to draw interest

INTERNATIONAL artist Ernest Zacharevic has managed to bring his idea to life by painting a gigantic mural of a man sitting in a trishaw in George Town Penang.

Zacharevic, from Lithuania, is now famed for his murals of his ‘Mirrors George Town’ street art project for the George Town Festival 2012.

The gigantic mural about 15.2m by 15.2m is majestically painted on a wall of a building in Upper Penang Road beside the Red Garden Food Paradise car park.

The mural was his sixth, which was painted within the core heritage zone of George Town.

“I find it most interesting to see the trishaw-man using the trishaw to hide from the sun and to sleep and sip coffee after a hard day’s work. It is an interesting concept and it gave me the idea to paint it,” said Zacharevic.

My gift to Penang: Zacharevic posing in front of his mural in Upper Penang Road
The 25-year-old added that the location is also perfect as there is a trishaw pick-up spot (beside Cititel Hotel) just a stone’s throw away from where the mural was painted.

It took Zacharevic about a week to complete the gigantic mural painting.

George Town Festival 2012 director Joe Sidek was grateful to the state for giving freedom for artists to promote the diversified arts and culture scene here.

Singaporean actress Tan Kheng Hua, 49, who played Margaret in the ‘Phua Chu Kang’ sitcom, expressed her interest in working with Joe in the next George Town Festival.

“I would do anything to work with him and I see Penang as a hit,” she said when met at the site on Sunday which was the last day of the George Town Festival 2012.

State Town and Country Planning, Housing and Arts Committee chairman Wong Hon Wai said the project sparked an interest as the arts is not only confine to art galleries alone.

He said: “There are many types of art, be it sculpture, mural or others.”

He added that to work on the mural paintings, the artist must obtain permission from the building owners and the local councils before commencing work.

Source reference link: http://thestar.com.my/metro/story.asp?file=/2012/7/19/north/11670115&sec=North

[My gift to Penang: Zacharevic posing in front of his mural in Upper Penang Road.]

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Penang Property | Stable office rentals in KL

Penang Property | Thursday July 19, 2012

By THOMAS HUONG
huong@thestar.com.my

KUALA LUMPUR: Rental rates for purpose-built offices in Kuala Lumpur were generally stable in the last three years, except for certain suburban and city centre areas which showed an upward trend, according to the 2011 Purpose Built Office Rent Index (PBO-RI) for Federal Territory of Kuala Lumpur.

“Looking at the data... the market is still good,” National Property Information Centre (Napic) director Dr Zailan Mohd Isa said at a pre-launch briefing of the 2011 PBO-RI which will be launched today.

The rent index has four regions, namely Kuala Lumpur City Centre-Golden Triangle (KLCC-GT), Centre Business District (CBD), within city centre (WCC) and suburban.


According to the rent index, average monthly rentals for purpose-built offices in the WCC region had increased gradually from RM2.92 per sq ft in the first quarter of 2009 to RM3.46 per sq ft in the fourth quarter of 2011.

This meant that average monthly office rentals in the WCC region had increased 18.5% over a three-year period.

It was also noted that average monthly office rentals in the suburban region had appreciated by 13.2% over a three-year period, rising from RM3.10 per sq ft in the first quarter of 2009 to RM3.51 per sq ft in the fourth quarter of 2011.

The suburban region includes Bangsar, Bukit Kiara, Damansara Heights, Jalan Pantai Baru, Jalan Istana and Jalan Syed Putra.

“Companies may be relocating to the suburban areas,” said Zailan.

Meanwhile, although the KLCC-GT region is the most sought after location in the city, average monthly office rentals were stable (a slight rise from RM4.60 per sq ft in the first quarter of 2009 to RM4.66 per sq ft in the fourth quarter of 2011).

However, the CBD region suffered a drop in average monthly office rentals, from RM3.46 per sq ft in the first quarter of 2009 to RM3.27 per sq ft in the fourth quarter of 2011.

For the entire Kuala Lumpur region under review, average monthly office rentals had increased sightly over a three-year period, from RM3.91 per sq ft in the first quarter of 2009 to RM4.04 per sq ft in the fourth quarter of 2011.

The rent index, which will be produced on a quarterly basis, is developed by Valuation and Property Services Department (JPPH), with assistance from Universiti Teknologi Mara (UiTM) and University of Malaya.

Zailan said it was the first rent index of its kind in the Asean region.

“It is based on data from actual rental agreements, and not asking rates.”

The rent index defines purpose-built offices as buildings with office use of not less than 75% of net lettable area, and has compiled rental data from 6,831 tenancy leases from 167 buildings.

Zailan said the rent index's aim was to provide a guide on current market rentals for investors, and a benchmark for the financial stability of the country.

“We also want to attract multinational corporations to set up regional headquarters in Kuala Lumpur,” she said.

Zailan also said the PBO-RI would be expanded eventually to cover all the major cities and towns in Selangor, followed by Penang and Johor.

“Getting data is the most dificult part. We urge all property managers and owners to co-operate with us in providing data.”

Source reference link: http://biz.thestar.com.my/news/story.asp?file=/2012/7/19/business/11687866&sec=business

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Penang Property | National Electric Tariff with effect from 1-June-2011

Penang Property | National Electric Tariff with effect from 1-June-2011 / Tarif Elektrik Berkuatkuasa 1-June-2011

Case study 2: With increase new development launching on condominium/apartment in Penang under commercial title, the advantage of commercial title will only be effect if the usage is above 3,300kwh or RM1,419.00 .

Henceforth buying condominium/apartment under commercial title buyers will have to pay more for their electricity bill.

Case study 2a: Based on 600kwh usage for commercial title, you've to pay additional of approx. 30% . This a nominal(avg) household usage with bill of RM200.00(calculated under residential title).

Courtesy of VulcanInternational | Penang Property

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Penang Property | Star Property Fair 2012 @ G-Hotel & Gurney Plaza(12-July-2012 to 15-July-2012)

Penang Property | Star Property Fair 2012 @ G-Hotel & Gurney Plaza (12-July-2012 to 15-July-2012)

Courtesy of VulcanInternational

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Penang Property | Hillcrest Residences, Penang MALAYSIA : For Sale

Penang Property | Hillcrest Residences, Penang MALAYSIA : For Sale.

Buildup Area: 2277 sq ft
View: Golf course, sea view and hill view.
Condition: Fully furnish with ID(interior design)

View from actual unit. Interested call Vulcan Lau, Mobile: +6 016 451 1321 http://t.co/ZcnkJLYH

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